Peduase, Eastern Region, Ghana, November 3, 2019//-The government acting through Ghana Cocoa Board (COCOBOD) will inject a $600 million stimulus package into the cocoa sector through a Cocoa Productivity Enhancement Program which will among other things step up the country’s production to 1.5m tones by 2027.
The Minister of Information, Kojo Oppong Nkrumah who announced this after a cabinet meeting, explained: “The stimulus will target rehabilitation of plantations, improvement in storage and domestic processing, stimulation of local consumption as well as efforts to increase output on farms among others and spans a 7-year period”.
The Akufo-Addo administration, he noted believes that Cocoa, being a major pillar of our economy cannot be allowed to survive at its own pace.
Cocoa farmers who have been the backbone of the Ghanaian economy already have good news for 2020 in cocoa price structure but now get an additional dose through this stimulus package.
Details of this project will be unveiled soon.
African Eye Report
